“Reaganomics” architect buys Yorkville condo for $15M

From left: David Stockman in the 1980s, the penthouse at 170 East End Avenue and President Ronald Reagan

David Stockman, a former U.S. politician who was President Ronald Reagan’s first budget director, and his wife Jennifer Stockman, the president of the Guggenheim Foundation, have paid $14.85 million for a penthouse in Yorkville, according to property records filed with the city today.

The power couple paid slightly above the most recent $14.8 million asking price for the 4,902-square-foot, five-bedroom, six-bathroom penthouse at 170 East End Avenue. The seller was real estate developer Alexandre Bosoni, who paid $11.8 million for the home in 2009 but put it back on the market for $15.8 million in 2011.

The apartment boasts 11.5-foot ceilings, a marble powder room and a formal dining room with a wood-burning fireplace and a balcony, according to a listing with the Corcoran Group husband-and-wife team of Bruce and Andrea Lucas. The building features a Pilates room, a squash court and even a movie theater.

Stockman is a pioneer of “Reaganomics,” the supply-side economic policies aggressively promoted by the Reagan administration during the 1980s. He is also the author of the hit book “The Great Deformation: The Corruption of Capitalism in America” and is a prominent critic of the Federal Reserve’s interest-rate policies. His wife Jennifer is the former chairwoman of the Republican Majority for Choice, a pro-choice group.

Representatives for the Stockmans and the Corcoran Group couldn’t immediately be reached for comment.

This is a brilliant man who has been extremely critical of the Reagan Administration and its deficit-spending military build-up during the Cold War. His book is incredible and his point of view towards the Federal Reserve is spot-on.